Uniglobe.com Reports 3Q Results

17 October 2002

Online travel leader and cruise specialist, Uniglobe.com Inc., today announced its financial results for the quarter ended September 30, 2002, in accordance with generally accepted accounting principles in the U.S.

Results for First Nine Months of 2002

Retail gross travel bookings were US$7.9 million for the first nine months of 2002 compared with retail gross travel bookings of US$16.4 million for the first nine months of 2001.

Revenues from retail operations were US$1.1 million for the first nine months of 2002 compared with revenues from retail operations of US$1.5 million for the first nine months of 2001.

The net loss was US$1.6 million, or US$0.07 per share, for the first nine months of 2002, down 39% from a net loss of US$2.7 million, or US$0.11 per share, for the first nine months of 2001.
Results for Third Quarter of 2002

Retail gross travel bookings were US$1.8 million in the third quarter of 2002 compared with retail gross travel bookings of US$3.9 million in the third quarter of 2001.

Revenues from retail operations were US$286,511 in the third quarter of 2002 compared with revenues from retail operations of US$426,332 in the third quarter of 2001.

The net loss was US$558,342, or US$0.02 per share, in the third quarter of 2002, down 43% from a net loss of US$982,018, or US$0.04 per share, in the third quarter of 2001.

At September 30, 2002, the Company had US$910,966 in cash and cash equivalents.
“Uniglobe.com continues its efforts on two key initiatives: search engine optimization and increased productivity from its cruise agents,” said Christopher Charlwood

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, President and Chief Executive Officer of Uniglobe.com.
During the third quarter of 2002, Uniglobe.com

hired a specialty firm to help increase its placement and positioning on popular search engines via a Search Engine Optimization program. In the past few weeks, the Company has shown a significant increase in traffic from these search engines. The goal of this program is to increase customer visits to the website and to increase inbound phone calls during the next six to eight weeks. At the same time, the Company is continuing its efforts on training and motivating its agents to increase their sales.